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| EWG Crowded With SellersBy Dividend Channel Staff, Monday, September 25, 11:38 AM ET
In trading on Monday, shares of the iShares MSCI Germany ETF (NYSE:EWG) entered into oversold territory, changing hands as low as $26.2726 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of iShares MSCI Germany, the RSI reading has hit 27.6 — by comparison, the RSI reading for the S&P 500 is currently 31.4. A bullish investor could look at EWG's 27.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), EWG's low point in its 52 week range is $19.35 per share, with $29.56 as the 52 week high point — that compares with a last trade of $26.32. iShares MSCI Germany shares are currently trading off about 1.5% on the day.
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